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Irish stock exchange questions?

  • 26-04-2015 10:11AM
    #1
    lightspeed
    Registered Users, Registered Users 2 Posts: 1,298 ✭✭✭


    Hi all I have an exam soon in a financial management class. The lecturer has in the past has asked questions on the Irish Stock Exchange but none of his notes provide much or any answers to such questions and neither does any of the recommended study material.

    I have a feeling that we may be asked why the Irish Stock Exchange decided to become a Plc in early 2014 and what are the benefits of such?

    Another question regards the number of delistings from the Irish Stock exchange and requires us to describe the consequences if this trend continues and how it will affect the Irish economy and the Irish Stock Exchange in the future.

    Can anybody help with the above or advise where i can find more information to above questions?

    I have googled as much as i could but all articles i could find including the ones on Irish Stock Exchange website just contain one or two vague sentences.

    For example, regarding the change to PLC,

    Deirdre Somers, Chief Executive of the ISE, said, “We are excited to start this new chapter in the Irish Stock Exchange’s 200 year history. This new legal structure brings the ISE more in line with corporate norms which we believe is more appropriate for the successful, diverse international business that the ISE has become. This change also provides us with greater flexibility for our future development which is of benefit to all our customers and stakeholders.”

    It does not specifically state what the benefits are exactly or the issues that have been address by becoming a PLC?


Comments

  • #2
    Sonnenblumen
    Registered Users, Registered Users 2 Posts: 5,834 ✭✭✭Sonnenblumen


    lightspeed wrote: »
    Hi all I have an exam soon in a financial management class. The lecturer has in the past has asked questions on the Irish Stock Exchange but none of his notes provide much or any answers to such questions and neither does any of the recommended study material.

    I have a feeling that we may be asked why the Irish Stock Exchange decided to become a Plc in early 2014 and what are the benefits of such?

    Another question regards the number of delistings from the Irish Stock exchange and requires us to describe the consequences if this trend continues and how it will affect the Irish economy and the Irish Stock Exchange in the future.

    Can anybody help with the above or advise where i can find more information to above questions?

    I have googled as much as i could but all articles i could find including the ones on Irish Stock Exchange website just contain one or two vague sentences.

    For example, regarding the change to PLC,

    Deirdre Somers, Chief Executive of the ISE, said, “We are excited to start this new chapter in the Irish Stock Exchange’s 200 year history. This new legal structure brings the ISE more in line with corporate norms which we believe is more appropriate for the successful, diverse international business that the ISE has become. This change also provides us with greater flexibility for our future development which is of benefit to all our customers and stakeholders.”

    It does not specifically state what the benefits are exactly or the issues that have been address by becoming a PLC?

    Listen don't expect to find facts in many Press Releases, it is a black art of making waffle sound good. They're doing a good job if they're impressing you! Why not ring the ISE and ask them directly? I agree what you quote is IMO waffle. If the same was written in plain English all would be revealed.

    If a trend of Irish cos delisting continues, it becomes a potential downward spiral as fewer listings means less trade (buying & selling shares etc) and less income for the Exchange. Some if not many would argue that ISE is a peripheral exchange and as Irish cos grow, they are moving to London and elsewhere to attract bigger pools of investors. There is great pressure on some to remain or retain dual listings. But as cos migrate, they eventually become, Irish Headquartered entities but shareholders are predominantly foreign. Nothing wrong with that, but it adds more pressure on the ISE and it's attempts to remain relevant and viable. Personally I think it will remain but in the greater scheme of international exchanges a non-entity. There is also a trend of larger Exchanges (German DAX) buying up smaller exchanges and this too may also be a threat to the future independence of the ISE.


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